So, you have decided to make a purchase and you know that the market is super-fast and you’re wondering how am I going to be the successful bidder of my next home.
We’re going to take the word NEXT and we’re going to deconstruct it starting with N for Nimble. What does it mean to be nimble? A nimble person is someone generally who can get up and run and jump and physically make things happen. It could also mean that you have a nimble brain that you are able to think on your fit and make plans.
It could also mean that you’re clever. That you’re a little creative and you think outside the box. In terms of being a nimble buyer, the first thing you need to do if you’re going to run and jump is a bit of conditioning. You need to train and be prepared. First thing’s first. You need to talk to the lender and make sure that you’re financially prepared to buy a house and that it makes sense that if it’s your budget and that you have the money in hand to be able to do it.
In this very fast sellers’ market, the sellers are not paying your closing help which we have enjoyed in other years and other markets. You also are not able, in general, to make a price offer and expect to be the winning bidder. Generally, buyers are going over list price and your agent can tell you for your area or zip code and that kind of a house, how much over you need to go.
You need to be quick in terms of seeing the house that’s of interest to you which means you have to put in place a plan to take off work, who’s going to watch the kids? Is your boss okay with it? How quickly can you get to the property? That also begs the question, do you have a nimble agent? Because you need the agent to get you into the house, to write the offer quickly, so what are some ways that you can be more nimble there?
For example, could you see yourself writing an offer on a house that you haven’t seen and make it contingent on the home inspection? Could you see yourself writing an offer ahead of time until you find the right address? Meaning all the paperwork is generated and you’re just waiting to plug in the address and the price. These are some things that you can discuss with your agent so that from the time the house comes on the market, until the time the agent submits the offer to the seller, you have only a lot of hours to go by because it’s very important to get your offer in quickly.
Being nimble means that you need to be creative with your offer.
If you’re interested in talking with us more about buyer agency, please reach out so that you can become a 5-star successful buyer for your NEXT home.